If You Attempted to Determine If the Standard of Living

question 134

Multiple Choice

If you attempted to determine if the standard of living of a country has increased by looking only at changes in its nominal gross domestic product (GDP) ,what would you be missing?

• A) the fact that nominal GDP includes all economic activity,including sales of used goods and illegal goods
• B) the fact that nominal GDP only considers changes in the price level but ignores changes in population
• C) the fact that an increase in nominal GDP normally means that standards of living are falling,not rising
• D) the fact that,in the long run,nominal GDP is the best measure of overall economic growth
• E) the fact that an increase in nominal GDP does not necessarily mean that standards of living are rising,due to changes in prices and the population

---

Definitions:

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature, typically in the workplace or academic settings.

Indonesian Workers

Labor force participants in Indonesia, focusing on their employment conditions, rights, and contributions to the economy.

Peripheral Integration

The process by which peripheral or less developed areas are incorporated into the global economy, influencing local development and connectivity.

Ecolonization

Refers to the process where digital technology and internet platforms are used to exert economic and cultural influences across borders.